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2002 (1) TMI 47 - HC - Income TaxExtract: .......interest on the loan that he took from the bank did not reduce his income by way of interest on the fixed deposit placed by him in the bank. Following the view taken by the apex court, we answer all these questions in the affirmative, i.e., in favour of the Revenue and against the assessee. The reference, so made, is hereby disposed of accordingly.
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